Preliminary Results for July 2024
Jul Jun Jul M-M Y-Y
2024 2024 2023 Change Change
Index of Consumer Sentiment 66.0 68.2 71.5 -3.2% -7.7%
Current Economic Conditions 64.1 65.9 76.5 -2.7% -16.2%
Index of Consumer Expectations 67.2 69.6 68.3 -3.4% -1.6%
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Read our July 19th report, Presidential Election Expectations.

Next data release: Friday, July 26, 2024 for Final July data at 10am ET
Surveys of Consumers Director Joanne Hsu
For the second straight month, consumer sentiment is essentially unchanged. July's reading was a statistically insignificant 2 index points below last month, well within the margin of error. Although sentiment is more than 30% above the trough from June 2022, it remains stubbornly subdued. Nearly half of consumers still object to the impact of high prices, even as they expect inflation to continue moderating in the years ahead. With the upcoming election, consumers perceived substantial uncertainty in the trajectory of the economy, though there is little evidence that the first presidential debate altered their economic views.

Year-ahead inflation expectations fell for the second consecutive month, reaching 2.9%. In comparison, these expectations ranged between 2.3 to 3.0% in the two years prior to the pandemic. Long-run inflation expectations came in at 2.9%, down from 3.0% last month and remaining remarkably stable over the last three years. These expectations remain somewhat elevated relative to the 2.2-2.6% range seen in the two years pre-pandemic.